Recreational Risk Management Quiz

What are the principles of risk management?

• Value, Size for purpose

• New opportunities, Protecting resources

• Open and transparent, Best practice

• Treatment of risk, Saving cost and time

• Decision making needs to consider risk, Active risk management

What are the benefits of risk management?

• Benefit of risk Identification :

  -Identifying risks helps people stay calm during a crisis and alert during normal times. It shows what problems have happened before and what might happen in the future, even if they’re not obvious

• Treatment of risk :

  -Risk management helps handle personal risks that come with carrying out a strategy. If something goes wrong, there are rules in place to reduce the impact. Not being prepared can create bigger problems, especially when important data is shared.

• Saving cost & time:

  -It can cause problems for finished projects and business plans, but it also helps save money by making things more efficient

• New opportunities:

  -New opportunities come from better ways of communicating about current problems. Even small or shared parts can apply to many situations. This helps us get ready for future challenges and the hard work they may require

• Protecting resources:

  -Risk management plans and policies help protect resources from being used improperly. They also support staff during changes and work together with other resources. These plans help create both main and backup strategies for production

What are the steps in the risk management process?

• Plan risk management:

  -The risk management process defines what will be covered and sets rules for how risks will be evaluated. This should be done based on the company's goals and priorities."

• Identify risk:

  -A complete way to identify risks includes three steps: find where the risk comes from, see what it might affect, and define the risk. It's also important to think about what could make the risk more or less likely, and how serious the results could be

• Analyse risks:

  -Once risks are identified, figure out how likely they are to happen and how serious the impact could be. This helps you understand the risk better and how it might affect the project’s goals.

• Plan risk response:

  -Communication and consultation are ongoing processes where an organization shares and receives information, and talks with stakeholders about managing risks.

• Monitor and control risks:

  -Sports and recreation organizations operate in a changing environment. Regular monitoring and reviews are key to effective risk management. It’s important to keep records of all steps in the process. Risk treatment options include avoiding, reducing, transferring, financing, or accepting the risk. Once the best option is chosen, a regular planning process should be followed to put it into action.

Explain " Risk identification"

• process of determining risks that could potentially prevent the program, enterprise, or investment from achieving its objectives.

• involves only financial risks and ignores other types.

• the process of eliminating all risks from a project.

• the final step in project management.

Explain " Risk evaluation"

• involves only financial assessments without considering other factors.

• This process involves comparing the results of the risk analysis with the criteria set earlier to decide if the cyber-risks are acceptable.

• the same as risk avoidance, focusing solely on avoiding risks.

• the process of eliminating all risks completely.

Explain " Risk mitigation"

• the process of increasing potential risks.

• involves ignoring potential risks altogether.

• After the risk has been identified and evaluated, the project team develops a risk mitigation plan, which is a plan to reduce the impact of an unexpected event.

• Risk mitigation is solely about transferring risks to another party.

Explain " Risk contigency plan"

• A risk contingency plan is a strategy to manage potential risks by outlining actions to take if those risks occur.
• A risk contingency plan is a way to ignore potential risks in a project.
• A risk contingency plan is a document that lists all possible risks without actions.
• A risk contingency plan is a financial investment strategy.
• A risk contingency plan is a method to avoid all risks entirely.

Explain " Tracking & Reporting"

• Tracking & Reporting is solely about financial audits.
• Tracking & Reporting involves only qualitative data analysis.
• Tracking & Reporting is the process of creating marketing strategies.
• Risk tracking involves monitoring the effectiveness of risk actions and adjusting the plan as needed during the acquisition process

TYPES OF INSURANCE COVERAGE

• MENTAL AND HEALTH INSURANCE

• GENERAL INSURANCE

• NATURAL DISASTER INSURANCE

• WAR INSURANCE

• LIFE INSURANCE

Risk factor (WATER BASED

RECREATION ACTIVITIES)

• SWIMMING

  (Drowning, Jellyfish sting, Ear infection)

• DIVING

  (Nitrogen Narcosis, Oxygen Toxicity, Ear barotrauma)

• KAYAKING AND

  CANOEING

  (Hypothermia, Dehydration, Waves, Currents, And Eddies Illness)

• CYCLING

  (Head injury)

• FOOTBALL

  (Muscle strain)